mccoz replied to the topic Build 2 houses and give half to the builder as a negotiated way of paying them. in the forum Help Needed! 10 years, 2 months ago
I entered into a similar deal in a corner block 2 townhouses, in Mckinnon, VIC a few years back. It was a good option for me at the time, where 2 projects came to a point where I required funding for construction loans at the same time. I financed one myself, the other was done as a joint venture with the builder.
I owned the land, and was…[Read more]
mccoz replied to the topic Property Management Fee in the forum Help Needed! 11 years, 4 months ago
Propertyboy
I have a property in the area, managed by an Agent based on Church St, Brighton. I presume you are talking about Vic.
Managed for three years, rental of $565 per week currently, I've had 2 excellent tenants, mgt fee of less than 7%.
The Property Rental director is very professional, and himself involved in the…[Read more]
mccoz replied to the topic Market price for Decking – melbourne se suburbs in the forum Help Needed! 11 years, 9 months ago
Thanks freckle.
the job has been done, as a variation – and the price was a lot more than I expected. (Yes should have checked price before going ahead…) You're right I should call some tradies and get some firm quotes, was just hoping there might be some out in the forum that may be able to quote me per square metre as a rough…[Read more]
mccoz replied to the topic Modbury Heights SA? Overseas investor. Any comments? in the forum Help Needed! 13 years, 2 months ago
Ok Michael,
the firb link was the website I was seeking. ie rules and regs surrounding tax and law.
My uncle wishes to put an offer in very soon, it sounds like he may need to fill in some paperwork first……
Thanks, plenty of reading for me.
mccoz replied to the topic Modbury Heights SA? Overseas investor. Any comments? in the forum Help Needed! 13 years, 2 months ago
Michael just wondering, given your client base, any good info resources for guidelines on purchasing in Australia as an overseas investor?
Cheers
mccoz replied to the topic Modbury Heights SA? Overseas investor. Any comments? in the forum Help Needed! 13 years, 2 months ago
Thanks Michael. Great info.
It sounds like this area has been popular with asian buyers. Any particular reason? Schooling? Other?
mccoz replied to the topic Modbury Heights SA? Overseas investor. Any comments? in the forum Help Needed! 13 years, 2 months ago
BTW, His 2 daughters study in Adelaide, one has just graduated, and they are intending to live there.
mccoz replied to the topic Modbury Heights SA? Overseas investor. Any comments? in the forum Help Needed! 13 years, 2 months ago
Yes, cash buyer, and is really keen to secure something in the next week! any comments?
mccoz replied to the topic What is happening to the property market in the forum General Property 13 years, 4 months ago
Agree with Fredo.
Loads of investors (mostly mum and dad investors) were sold into the idea of building in Point Cook through a number of companies in the name of “wealth creation”. Point Cook has enjoyed substantial growth in recent years. Many of these houses have now been completed, the investors are realising the consequences of an…[Read more]
mccoz replied to the topic Handover from Builder to Owner – no electricity. in the forum Help Needed! 13 years, 5 months ago
That’s great. Thanks for clarifying.
mccoz
mccoz replied to the topic Handover from Builder to Owner – no electricity. in the forum Help Needed! 13 years, 5 months ago
Scott No mates,
Can you define NOE? BTW we are in Victoria.
From my understanding, the builder has organised the point of attachment, but we are all waiting for Jemena (distribution co) to come in and install the meters.
The builder’s electrician then organised the paperwork for Jemena to make the final connection. It sounds like both the…[Read more]
mccoz replied to the topic Handover from Builder to Owner – no electricity. in the forum Help Needed! 13 years, 5 months ago
Thanks JacM and Rarahprincess for your comments. Hopefully this will be in a non issue and electricity will in next week, in the meantime, I’d better confirm my understanding of where i stand.
mccoz
mccoz replied to the topic Handover from Builder to Owner – no electricity. in the forum Help Needed! 13 years, 5 months ago
Hi JacM,
No not yet. Just wondering whether any one in the PI community had any experience on this one. You’re right though. The solicitor will be the final call.
mccoz
mccoz replied to the topic Who’s doin’ what in 2011? in the forum Forum Frolic 13 years, 8 months ago
This year I’ll be:
– finishing a rear s/s storey unit development
– starting build on a 3 unit res .development in , and be close to finishing by the end of the year. Permits pending any day now. (famous last words)
– hopefully ending a vendor finance deal (client is finally ready!) so I can release cash for the next deal.
– finding the next…[Read more]mccoz replied to the topic construction loan for 3 unit development – looking for residential loan. What are my options? in the forum Finance 13 years, 8 months ago
Thanks for your comments so far. Much appreciated. I’ve left a message for Alistair to call back for further discussion.
In the meantime, are there any developers who have recently taken out loans for a 3 unit development, and who did they end up choosing and why? Res/commercial/which bank? etc. Would be interested to hear their stories.
Thanks again
mccoz replied to the topic construction loan for 3 unit development – looking for residential loan. What are my options? in the forum Finance 13 years, 8 months ago
That’s a good point Alistair. I’ve just been assuming that a residential loan will cost me less overall. i obviously need to do the comparisons and work out my priorities eg. less cash in vs higher interest rate etc etc.
i’m building in the Se Suburbs in Victoria.
Are there any particular competitive products that come to mind as a starting…[Read more]
mccoz replied to the topic construction loan for 3 unit development – looking for residential loan. What are my options? in the forum Finance 13 years, 8 months ago
Thanks Richard.
Can you clarify what a GR loan is? I assume it’s a loan that is based on end value.
mccoz
mccoz replied to the topic iClub Feedback in the forum Heads Up! 13 years, 8 months ago
Hi guys,
I joined up back in November and have been receiving information on a monthly basis since then.
Regarding value, for a newbie who intends to be active in property investing, I think it would be excellent value. You’ll get access to a wide spectrum of property related info.
As someone like myself who has attended a few PI seminars in…[Read more]
mccoz replied to the topic any better products out there? in the forum Finance 14 years, 1 month ago
Thanks everyone for providing some options and I can direct the way I'd like to go. NAB looks like a good overall product. 'KimandGlen, the contract does state 6.55% but thanks for flagging. i will ask the question. I don't think what I am seeking is anything out of the ordinary (except maybe vacant land limits my choices?), I do feel diss…[Read more]
mccoz replied to the topic deposit when first signing a contract in the forum Help Needed! 14 years, 2 months ago
You'll should only get back your deposit as a buyer, if you have specified in your Contract of Sale, that the purchase is subject to "building/pest/ finance" or whatever item. Even then. the purchaser needs to be specific in how he/she words these "conditions" of sale. For example. simply " subject to finance" is very vague.If for example, the…[Read more]
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